U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17254 / December 4, 2001

On November 29, 2001, the Commission filed an injunctive action to enforce an order issued against Stephen J. Fischer ("Fischer") by the Commission in an administrative proceeding in which Fischer was a respondent. Specifically, on April 18, 2001, Fischer was ordered, among other things, to pay a $5,000 civil penalty in a proceeding in which it was alleged that he submitted false bid and ask quotes for The L.L. Knickerbocker Co., Inc. stock in violation of Section 15(c)(2) of the Securities Exchange Act of 1934 and Rule 15c2-7 thereunder. In the Matter of Shamrock Partners, Ltd., James T. Kelly, John R. Doyle and Stephen J. Fischer, Admin. Pro. File No. 3-10344 (April 18, 2001). Even though Fischer consented to the issuance of the order by the Commission, he has failed to pay the $5,000 civil penalty.